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I bought SIRI around .15ish when everyone thought they were going to go bankrupt. Unfortanetly I did not bet the farm I would be typing this from a beach somewhere
I sold have my shares a month ish ago and currently hold the other half. I'm currently gambiling on a buy out.
I owned SIRI years ago and wish I would have gotten back in when it tanked to around a dime a share. With technology changing, it is hard to say what the future holds for SIRI. Can their spectrum be used for home TV entertainment? Is Pandora and other internet radio/music websites as reliable as SIRI in terms of RVs, boats, long haul truckers, campers, rental cars, etc.? You are already considering selling the shares today, which is around $3.67/share. The only thing I could say is that you might want to look at the Jan 2015 $3.50 strike put. Last trade was last week, price per share was around the same price now and at least one contract traded for $60. You would need 20 contracts and at the price, it would cost you $1,200. That $1,200 would guarantee that you can sell all your 2,000 shares at $3.50, so basically you are spending $1,200 to protect $7,000. If the stock goes up $1/share in the next few months, then you could sell then. You could sell the options then at a likely a significant hit, but you could also keep them because if after that run up, the stock goes down over the next six months, you would likely either recoup most of the cost of the contracts, or possibly even make money if the stock starts going below say the $3.25/share price.
You could also look at the Jan 2014 puts at the same SP. Would only cost you about half as much and would get you some protection through the Christmas season, which in the past really affected SIRI. Around $600 to protect $7,000.
I'm still holding and it is up over $4.00 now. Really on the fence as to sell or still hold for more. So afraid that if we sell like we sold our Netflix when it was $15.00, because everyone said it was done for, that it will become the next Netflix.
I'm still holding and it is up over $4.00 now. Really on the fence as to sell or still hold for more. So afraid that if we sell like we sold our Netflix when it was $15.00, because everyone said it was done for, that it will become the next Netflix.
Sell half and keep the rest (which is what I did, albeit sold at a much lower $). Personally, I'm not sure how I feel about its longterm prospects.
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